How Much are Auto Insurance Rates for Lyft Drivers in Louisville?

One of the many criteria that aid in calculating car insurance rates is where you call home in Louisville. Areas with a lot of weather claims or more people will most likely have higher rates, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.

The illustration below rates the most expensive areas in Kentucky for Lyft drivers to buy car insurance in. Louisville ranks #1 with the annual price of $2,176 for car insurance, which is approximately $181 each month.

How much does auto insurance cost in Louisville?
Rank City Average Per Year
1 Louisville $2,176
2 Frankfort $1,725
3 Jeffersontown $1,719
4 Ashland $1,707
5 Saint Matthews $1,660
6 Radcliff $1,606
7 Paducah $1,583
8 Madisonville $1,552
9 Danville $1,549
10 Murray $1,549
11 Elizabethtown $1,547
12 Covington $1,532
13 Lexington $1,514
14 Georgetown $1,506
15 Winchester $1,501
16 Henderson $1,495
17 Hopkinsville $1,493
18 Richmond $1,490
19 Independence $1,480
20 Bowling Green $1,476
21 Erlanger $1,463
22 Nicholasville $1,459
23 Florence $1,441
24 Owensboro $1,418
25 Fort Thomas $1,412
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Annual rates are approximated as the specific area where the vehicle is garaged can decrease or increase coverage rates substantially.

The vehicle model you are insuring is probably the largest consideration that determines whether or not you find economical coverage for Lyft drivers. Vehicles with lots of speed or power, poor passenger safety features, or a history of substantial liability claims will cost more to insure than safer, lower-performance models. The next table ranks insurance costs for a selection of the most affordable automobiles to buy coverage for.

Cheapest Vehicles to Insure in Louisville, KY
Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 2WD $1,723
Toyota Prius $1,915
Toyota Tacoma 4WD $1,936
Honda CR-V LX 2WD $1,945
Jeep Wrangler Sport 4WD 2-Dr $1,948
Ford F-150 STX Super Cab 4WD $1,975
Volkswagen Jetta LE 4-Dr Sedan $2,049
Hyundai Elantra Blue 4-Dr Sedan $2,117
Honda Odyssey EX $2,194
Ford Focus SE 4-Dr Sedan $2,203
Chevrolet Equinox LTZ 2WD $2,197
Ford Explorer Eddie Bauer 2WD $2,204
GMC Sierra SLE Regular Cab 4WD $2,197
Dodge Grand Caravan Hero $2,238
Toyota RAV4 Sport 4WD $2,247
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Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Price estimates do not factor in specific garaging location which can decrease or increase insurance rates noticeably.

Looking at the data, cars like the Ford Escape, Toyota Prius, Toyota Tacoma, and Honda CR-V are most likely going to be a few of the most affordable vehicles to insure for Lyft vehicles.

Choosing the highest-rated car insurance company can be difficult considering how many different companies insure vehicles in Louisville. The company rank data shown next may help you choose which companies you want to consider comparing prices from. The rankings below only include companies that insure vehicles across America, so companies that only write business in Kentucky or surrounding areas will not be included in this list.

Top Ten Insurance Companies for Lyft Drivers in Kentucky
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
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Data Source: Best Car Insurance Companies

Insurance rates are higher with tickets and accidents

The recommended way to receive cheap insurance premiums for Lyft vehicles is to be a safe driver and avoid accidents and violations. The information below demonstrates how traffic citations and at-fault accidents can drive up auto insurance rates for each different age group. The costs are based on a married female driver, full physical damage coverage, $500 deductibles, and no discounts are applied to the premium.

The data in the chart shows the average cost of an auto insurance policy per year with a clean driving record and no accidents is $1,573. Receive two speeding tickets and the average cost jumps to $2,234, an increase of $661 each year. Now include two accidents along with the two speeding tickets and the 12-month cost of insurance for Lyft drivers goes up to an average of $4,835. That’s an increase of $3,262, or $272 per month, just for being a less-than-perfect driver!

The benefits of price comparisons

Louisville, KY insurance rates are influenced by many factors that may substantially change the price of your policy. Simply having a birthday, buying a different home, or getting a ticket for running a stop sign may prompt premium changes resulting in some companies being more affordable than others.

Not only that, but auto insurance companies file new Kentucky car insurance rates multiple times each year in order to maintain liquidity for claims. Significantly higher claims may cause rate increases, while lower claim expenses may produce cheaper Louisville car insurance rates.

To illustrate this example, the bar chart below compares the cheapest car insurance in Louisville, KY for a 30-year-old male driver with a clear driving record, no claims, and great credit. When quoting prices based on his personal profile, Cincinnati Insurance might quote the cheapest car insurance rates in Louisville at $1,601 per year. This is $542 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual are the remainder of the top five cheapest Louisville, KY auto insurance companies.

Now we will give the driver from above an accident claim, less-than-perfect credit, and a couple of points charged on his driving record. Due to the fact that every auto insurer has their own guidelines for establishing rates, comparing rates may now result in a different set of companies as shown below.

Travelers now has the cheapest auto insurance in Louisville, KY with Kentucky Farm Bureau, USAA, Cincinnati Insurance, and State Farm also having competitive pricing. This example shows why Kentucky drivers need to compare lots of rates to find the lowest car insurance rates for Lyft drivers.

Insurance prices consist of many things and change substantially, so the lowest-price company a year ago may now be one of the more expensive options.

If you have coverage questions and would like to have a professional recommendation when shopping for the best coverage for Lyft vehicles, the agencies below are a good start to help you make a decision which coverage meets your needs best.

To locate an agency near you, click the link at the bottom or click here to compare rates now.

Mary Henry – State Farm Insurance Agent
5800 Bardstown RdLouisville, KY 40291(502) 491-7797

Louisville Kentucky Insurance
4500 Dixie HwyLouisville, KY 40216(502) 447-3711

Phil Brown Insurance Agency, Inc.
9300 Shelbyville Rd #1004Louisville, KY 40222(502) 327-6966

Matt Miller – State Farm Insurance Agent
8321 Preston HwyLouisville, KY 40219(502) 964-6288

Ivy Brito – State Farm Insurance Agent
4919 Dixie Hwy bLouisville, KY 40216(502) 449-1362

View map of Louisville, KY insurance agents

How to find budget-friendly auto insurance for Lyft drivers

It is possible to find better rates, and here are a few thrifty ideas that can help Louisville drivers quote lower-cost coverage.

The last tip is notably valuable, as was noted in this article. Coverage rates in Louisville can change considerably based on profitability, so don’t be tentative to buy from a new company if a cheaper price is available.

Having a favorite company is great, but it’s not a good idea if that loyalty results in overpaying potentially thousands of dollars a year. Spend a few minutes and compare rates and find cheaper insurance for Lyft drivers.